Obama wrong on the economy

Last Friday, our president had a long overdue news conference on economics. In his speech, he took credit for 800,000 jobs being added to the payrolls, since Jan. 1. I hope everyone was happy to hear about this, even if they are reluctant to give the administration credit for it.

He went on to blame the financial crisis in Europe for our sluggish economic progress. He explained that Europe accounts for 20 percent of our products, that we sell abroad. As long as they are having trouble, we are not going to sell as much product.

He then made a statement that made a few people a little uneasy, to say the least. He said that, “The private sector is doing just fine.” Few people in the private sector would agree with him. Maybe his position makes him unable to see and feel the hardships that many of us are going through. Maybe his economic advisors, which he made reference to, are un-qualified, or more interested in catchy sound bites.

Then he revealed the main thrust of his conference. He stated that since the private sector is just fine, he is now going to focus on the public sector. He mentioned that teachers, police and firefighters have lost their jobs, throughout the country, during these hard times. He stated that state and local government agencies have had reduced revenue, resulting in big job cuts.

At the end of his speech, he took questions from the press. I really wish I could have been there. No one asked the most obvious economic question, based on his comments. My question to him would have been,”Mr. President, Do you think that there might be a connection between layoffs in the public sector and much larger job growth in the private sector ?”. If allowed a follow-up, or second question, it would have been, “Mr. President, Do you think that the financial stress in Europe could be the result of too many government jobs and government regulations ?” I doubt that our president would have answered my questions. He does not seem to think that there is any connection.

When we (hard working Americans) get a president who understands the connection between public spending, and private sector growth, we will begin to prosper once again. When we have a president who can see that Europe is collapsing from the weight of too much taxes, too much regulation and not enough production of usable product, we will be able to have an economic turnaround. Not before.

David Paul Snyder is the flight training programmanager for two Israeli business jets. He is a former pilot for Pan Am and is the former chairman of the Bucks County Airport Authority.